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that. he's considered -- he was brought in to citigroup by, i believe, bob rubin, spent time in the clinton administration. people describe him as a pretty partisan guy. he's much more liberal than geithner, although geithner is a guy whether he's liberal or not personally carried the president's water pretty well. you know, i'm not saying he did a good job, i'm just saying he did not deviate from the president's line. you know, it's interesting. guys like bob rubin when they were treasury secretary, he basically went up against the president. if you read some of bob woodward's books, which i have, i mean, the way bob woodward tells it, bob rubin, the treasury secretary for clinton, forced clinton to raise taxes but used that money for deficit reduction because he believed that would control the economy. president clinton did listen to him. and i'll tell you, i talked to bob rubin about that anecdote where clinton says you tell me a bunch of bond traders control the economy -- i'm paraphrasing -- and rubin said, yes, i am. i asked him about that once a couple years ago, and h
chairman's approach. quick question about another proposal floated by people like bob rubin, larry summers, other with close ties with the house, peterson and the peterson institute, what do you think of that proposal which goes through $1.8 trillion in new revenue over a decade, raising the top rates to clinton era levels, taxes on cigarettes, alcohol, internet gambling, also obviously some pretty big dramatic cuts on the spending side. is that a start in. >> i thought it has a lot of merit. look, part of what happens in washington is the two sides spend too much time talking to each other and not listening to the other side. once in a while the other side actually has a good idea and the truth be told, in a package of this size, we're going to need to take the best ideas of both sides and we're ready now, the country is ready, i believe the people of this country are going to say at the end of the day if we get agreement, gee, i don't like this, that, but it needed to be done and we can dos this. we've done much harder things in the past. we have to in some ways buck up those who are neg
clinton's economic team, people like bob rubin and larry podesta, have put their name to a plan that calls for $200 billion more in tax revenue than even the president is asking. for more now we have with us william cohen in new york, a columnist for the bloomberg view, and clarence page, a columnist for "the chicago tribune." welcome to both of you. clarence, one thing this makes plain is democrats are feeling confident in a fiscal cliff win. why not ask for more? >> well, they're certainly asking for more than president obama is asking, and that is the point here. they feel that the policies of the clinton era that gave us the prosperity that we saw back then would be good to impose now. they are really calling for a different kind of arrangement pushing for a simplification of the tax code that would include taxes on cigarettes and alcoholic beverages which would cross income lines, those kind of consumer taxes hit lower income tax people -- taxpayers as well as upper, and they want to get rid of the amt, that automatic tax that's designed to make sure that older -- rather, the higher i
of people who bore quite experienced, bob rubin, larry summers, well-known names, and we tried to work through hell to see if you could raise enough revenue to actually hit the simpson-bowles target. we limited unjustified tax loopholes, but we primarily did it by converting the current system of deductions which favor high income taxpayers which equalizes the benefits of middle-income and high-income taxpayers get. we restored the top rate to 39.6%. there is an lot of debate about whether you can lower the rate. it is incumbent upon other people to come forward to show how they can get the income necessary to deal with our fiscal problem and be specific about how they would take the loopholes and deductions out of the system and how much that would hit the middle class. overall, the plan i think tries to protect people in the middle and at the bottom, tries to deal with the problem of income inequality, and we think it is an important contribution to tax reform going for it. -- going forward. i anticipate a full-blown tax proposal will take place in the next few weeks, but hopefully t
it was important but nothing really has happened. when this happened, i became very popular with bob rubin, the treasury secretary, and president clinton. the fact was, that demotto and phil graham were outraged and said, you are wrong. and jesse said, no, read the jurisdiction. sure enough, he was right. i use that as but one example. when i say framing america's interests, again, this has been noted tonight as john kerry talked about -- economics, trade, relationships, stability, security, diplomacy, everything, everything revolves around the foreign relations committee and most of it recites inside the foreign relations committee. -- resides inside the committee. as noted here, too, the up and down of committee, not unlike markets, not unlike nations, which are clearly recounted in history, you work through those waves of different committees at different times. but when john kerry talk tonight about arthur vandenberg's comment, and everybody on the committee knows it. let me take that a little further. that comment was made by a republican senator who had been a bit of an isolationist
together a group of people who bore quite experienced, bob rubin, larry summers, well-known names, and we try to work through hell would you raise enough revenue to actually hit the simpson- polls target. -- simpson-bowles targer. we limit it unjustified tax loopholes, but we primarily did it by converting the current system of deductions which favor high income tax payers which equalizes the benefits of middle income and high-income tax payers get. we restored the top rate to 39 per 6%. there is an lot of debate about whether you can lower the rate. it is incumbent upon other people to come forward to show how they can get the income necessary to deal with our fiscal problem and be specific about how they would take the loopholes and deductions out of the system and how much that would hit the middle class. overall, the plan i think tries to protect people in the middle and at the bottom, try to deal with the problem of income inequality, and we think it is an important contribution to tax reform going for it. i anticipate a full-blown tax proposal will take place in the next few weeks,
Search Results 0 to 5 of about 6

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